re: Ann: Letter to Shareholders - Investor In... Hi Focus1.This...

re: Ann: Letter to Shareholders - Investor In... Hi Focus1.

This will be my last post on this, sorry if any other questions, comments or attacks are ignored after this.

I think we are in a difficult no mans land right now.
Ian has spent the last 2 years working on introducing the concept to potential developers. Then some time later, they have engaged us to work with them during the planning and design stage. However until after the developer starts construction and is at the point of putting in infrastructure for services, he is not interested in signing a contract. We are not the most important cog in the developers machine.

So the pipeline of work in hand grows, and all shareholders see in nothing.....just silence. We are not announcing MOU's or heads of agreement. When a contract is done, only then are we counting it as done.

The amount of change that has occurred in the business in the last 3 months would be hard for anyone not involved in the business to imagine. Our new CEO is a very accomplished individual, who is transforming the business at a cracking pace. He has already made a number of substantial changes that will show up in our cash flow this year IMO. Yes nothing is guaranteed, but personally, I am very happy with what Tim is doing- and I say that as a major shareholder, who has also put buckets of his own cash into this business along the way, who has far more reasons than any of you to be disappointed with how this has turned out.

The session this week was an opportunity for shareholders to meet Tim, and talk to him direct. Yes, there was a mix up with the planning, and so the notice of meeting was delayed...I have had the feedback from a number of holders who would have come but were unable to.

Focus1, I take on board what you et al have said regarding communication, and I will raise it with the board at this Tuesday's board meeting. I totally agree that we need to be communicating with shareholders as much as possible. Whilst there are real commercial sensitivities around some of what we can and can not relays, I acknowledge and agree 100% that we can do this better.

Kiril.

I hold